Mci Capital Alternatywna Spolka Inwestycyjna S.a. · GPW:MCI

Mci Capital Alternatywna Spolka Inwestycyjna — MCI Capital — H1 2016 Earnings Presentation

21 slides from Mci Capital Alternatywna Spolka Inwestycyjna's earnings presentation, Aug 23, 2016

  1. Slide 1: MCI Capital Results for H1 of 2016

    MCI Capital Results for H1 of 2016 Warsaw, 23 August 2016

  2. Slide 2: Agenda

    Agenda KPI KPI MCI Capital of MCI H1for2016 Capital H1 of 2016 Summary of MCI’s Podsumowanie results MCI wyników Wyniki Funds’ Funduszy z perspektywy results from MCI MCI’s perspective Stan Cashśrodków position pieniężnych in the Group w Grupie Struktura WANand NAV structure i podsumowanie summary o

  3. Slide 3: KPI H1'16

    KPI H1’16 2,342 2,137 1,438 1,193 PLN million PLN million PLN million PLN million Funds’ assets Funds’ net asset value Asset value in MCI’s MCI’s net asset value (NAV) balance sheet 48 19.31 10.67 0.53 PLN million PLN PLN P/BV Net profit Net assets per share Market price of shares

  4. Slide 4: KPI for H1 of 2016 – the NAV per share increased by 3% YTD

    KPI for H1 of 2016 – the NAV per share increased by 3% YTD KPI KPI 30.06.2016 31.12.2015 30.06.2016 31.12.2015 zmiana change MCI kursshare MCI*price* 10.15 10,15 11,33 11.33 -10% liczba akcji Number of shares 61 779 619 61 779 619 0% aktywa Net assets netto (NAV)(NAV) in PLNwmillion mln PLN 11193.0

  5. Slide 5: Funds' results from MCI's perspective

    Funds’ results from MCI’s perspective Funds’ rates of return Structure of MCI Capital’s assets Wartość Value in PLN 3-year %* y/y % Pozycjasheet Balance bilansowa item wmillion mln PLN Udział % share% Inwestycjeinwsubsidiaries Investment jednostkach(IC) zależnych (CI) 11185.1 185,1 82.4% 82,4% 17.3%

  6. Slide 6: Cash position of MCI and its affiliates (in PLN million)

    Cash position of MCI and its affiliates (in PLN million) udział MCI MCI share udział MCI MCI share 2016H1 2016 1H 2015 2015YE YE Nazwa Name podmiotu of entity 2016 2016 H11H 2015 2015 YEYE zmiana change 2016 H1 2016 1H 2015 YE 2015 YE (value share) (value share) (udział wart.) (udział wart.) MCI Cap

  7. Slide 7: Decomposition of the NAV of MCI.TechVentures 1.0 sub-fund

    Decomposition of the NAV of MCI.TechVentures 1.0 sub-fund (in PLN million) 105 -85 147 1 033 82 45 26 713 W Y C E NA PORTFOLIO W I E R CLAIMS Z Y T EL N OŚ CI C EINVESTMENT R T Y F I K AT Y WBILLS E K S LOF E Ś RCASH O D K IAND P I E NCASH I ĘŻNE RECEIVABLES N A L E Ż N O ŚCAND II Z O BLIABILITIES O

  8. Slide 8: Decomposition of the NAV of MCI.EuroVentures 1.0 sub-fund

    Decomposition of the NAV of MCI.EuroVentures 1.0 sub-fund (in PLN million) 1 18 4 -74 55 881 885 W Y C PORTFOLIO EN A P O RTF EL A W I E RCLAIMS ZY TEL N O ŚC I WBILLS E K S L OF E Ś R OCASH D K I PAND I E N ICASH ĘŻN E I N ARECEIVABLES L EŻN O ŚC I I IN NE AND LIABILITIES ZO BO W IĄ ZA N IA WNAV A

  9. Slide 9: 'Closer look' at MCI.EuroVentures

    ‘Closer look’ at MCI.EuroVentures The assets will probably repeat the previous success. • 56% of the portfolio – mature investments – close to the exit. • Investments in the given companies amounted to • 44% of the portfolio of MCI.EuroVentures is made up of PLN 270 million, and their current valuat

  10. Slide 10: 'Closer look' at MCI.TechVentures

    ‘Closer look’ at MCI.TechVentures 30% of the portfolio is valued at the purchase price Candidates for European Strong regional champions • The Fund’s portfolio includes and global champions companies developed by us to become regional champions (Invia since 2015 since 2011 case), as well as companie

  11. Slide 11: New investments – in 2016, MCI Capital's fund spent over PLN 275 million

    New investments – in 2016, MCI Capital’s fund spent over PLN 275 million on new investments and next rounds of financing • MarketInvoice – the leader in its category – enables online factoring, FinTech Online factoring platform • A financing round of GBP 7.2 million was led by MCI.TechVentures, Onli

  12. Slide 12: We maintain geographic and sectoral diversification

    We maintain geographic and sectoral diversification POLAND GLOBAL We are pursuing a geographic diversification strategy by planning our investments according to the following geographic structure: • 50% Poland DACH • 40% West European, Scandinavian and Israeli markets • 10% growing markets: Russia a

  13. Slide 13: Strong diversification of the TV and EV portfolio

    Strong diversification of the TV and EV portfolio (share of the TOP 10 companies in the total number of the NAV of MCI.TV and MCI.EV funds as at 30.06.2016) Company Valuation % NAV** Fund (PLN million) 1 221.9 11.5% 2 161.1 8.4% 3 122.1 6.3% 4 116.2 6.0% 5 113.9 5.9% 6 109.9 5.7% 7 96.9 5.0% 8 89.1

  14. Slide 14: Valuation of the portfolio of MCI.TechVentures 1.0

    Valuation of the portfolio of MCI.TechVentures 1.0 % of capital Accumulated Investment (PLN 000) Dividend Partial exit Valuation as at Q2/2016 Valuation method held purchase value Value of MCI shares Value of options Total Digital Avenue SA 30.91% -1 622 0 643 1 061 n/a 1 061 Optizen Labs S.A. 50.58

  15. Slide 15: Structure of MCI.TechVentures 1.0 portfolio according to valuation methods

    Structure of MCI.TechVentures 1.0 portfolio according to valuation methods Fund portfolio structure broken down by particular valuation methods [CATEGORY NAME]: [CATEGORY NAME]: Ceny rynkowej: Środków PLNzainwestowanych: 213.0 million PLN 34,737.7 mln.million PLN [PER CENT] [PER CENT] 213,0 mln. PLN

  16. Slide 16: Structure of MCI.EuroVentures 1.0 portfolio according to valuation methods

    Structure of MCI.EuroVentures 1.0 portfolio according to valuation methods Accumulated purchase Investment (PLN 000) % of capital held Dividend Partial exit Valuation as at Q2/2016 Valuation method value Value of MCI shares Value of shares Total ABC Data 61.52% 119 807 116 938 32 382 221 934 n/a 221

  17. Slide 17: We maintain a 'young' portfolio structure on a constant basis

    We maintain a ‘young’ portfolio structure on a constant basis Portfolio aging – by value (PLN million) Age (years) TV EV IV HVP TOTAL 0-1 136.9 248.4 8.4 0.0 393.7 1-2 262.7 89.1 14.5 0.0 366.3 2-5 277.9 271.0 12.4 3.8 565.1 Possible major 5-10 35.7 221.9 0.0 4.1 261.8 appreciation of the >10 0.0 0.

  18. Slide 18: MCI Capital maintains a stable growth of value of the NAV/share

    MCI Capital maintains a stable growth of value of the NAV/share 33-year letnielisting of MCIMCI notowania NAV NAVper share na akcję 60.4% 19.63 19,63 80 , 0% 19,31 19.31 18,69 18.69 18.10 18,15 18,1018.15 17.22 17,22 16.46 16,46 60 , 0% MCI MCI WIG20 WIG20 16.14 16,14 15.69 15,69 40 , 0% 26.0% 13.98

  19. Slide 19: Main assumptions of the dividend policy for the next years

    Main assumptions of the dividend policy for the next years RECOMMENDATION: From 2018, assignment of at least 2% of the NAV per year to buyback or dividend Discount > 25% of NAV BUYBACK Discount < 25% of NAV DIVIDEND NOTES: • In the years 2016 and 2017, the dividend will be realised in the buyback fo

  20. Slide 20: MCI's business model

    MCI’s business model THE III STABLE PILLARS OF MCI >>10% 10%ofIRR IRR GROWTH: PERFORMANCE PERFORMANCE of theportfela portfolio of • The targeted average rate of return funduszy PE/VC/PD funds on the portfolio of PE/VC/PD funds PE/VC/PD stably exceeds 10% of IRR a year. The growth of diversification

  21. Slide 21: Disclaimer

    Disclaimer  This presentation does not constitute an offer within the meaning of the law.  This presentation has been prepared based on the best knowledge of MCI Capital SA and contains up-to- date information as at the day of its publication. MCI Capital SA Warsaw Financial Center ul. Emilii Plat

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